Murrey Math Lines 18.04.2016 (EUR/USD, GBP/USD)
18.04.2016
Analysis for April 18th, 2016
EUR USD, “Euro vs US Dollar”
After rebounding from the 4/8 level, Eurodollar has started consolidating. The current flat may yet continue during the day, but later the pair is expected to resume its decline. The first target for bears will be at the 3/8 level.
At the H1 chart, Eurodollar is attempting to stay above the 2/8 level. If it fails and breaks Super Trends downwards, the price will resume falling. In this case, the closest target will be at the -2/8 level.
GBP USD, “Great Britain Pound vs US Dollar”
Last week, Pound rebounded from the 7/8 level and started falling towards the 3/8 one very fast. Taking into account that later the price rebounded from the daily Super Trend and the 5/8 level, in the nearest future the market may continue falling towards the 1/8 one.
The lines at the H4 and H1 charts are completely the same. Super Trends are still influenced by “bearish cross”. If the price breaks the 4/8 level, I’m planning to increase my short position with the target at the 1/8 one.
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